UK car sales fall for eight month in a row - SMMT

Oliver Haill WebFG News | 05 Dec, 2017 09:38 | | |

ep automoviles coches vehiculos
Automóviles, coches, vehículosRENAULT

UK new car sales have skidded lower for an eighth consecutive month, entirely from falling demand for diesel vehicles.

Just over 163,500 new cars were registered in November, down 11.2% against the same month last year as diesel sales fell 30.6%.

For 2017 as a whole, new car registrations in 2017 of 2.39m are down 5.0% on 2016, the Society of Motor Manufacturers and Traders revealed, due in large part to changing government treatment of diesel engines.

Electric care and other alternatively fuelled vehicles continued to make significant sales gains, growing 33.1%.

Petrol car sales grew 5.0% in the month.

Business, fleet and private registrations all fell in the month, down -33.6%, -14.4% and -5.1% respectively. Registrations fell across all body types except specialist sports, which grew 6.7%. The biggest declines were seen in the executive and mini segments, which decreased -22.2% and -19.8% respectively, while demand in the supermini segment contracted by -15.4%.

Mike Hawes, SMMT Chief Executive, said: “An eighth month of decline in the new car market is a major concern, with falling business and consumer confidence exacerbated by ongoing anti-diesel messages from government.

"Diesel remains the right choice for many drivers, not least because of its fuel economy and lower CO2 emissions. The decision to tax the latest low emission diesels is a step backwards and will only discourage drivers from trading in their older, more polluting cars. Given fleet renewal is the fastest way to improve air quality, penalising the latest, cleanest diesels is counterproductive and will have detrimental environmental and economic consequences.”

More news

13 Dec US close: Stocks end on mixed note, despite Fed and tax cuts

Stocks finished on a mixed note after two rate-setters dissented from the Federal Reserve's widely-expected decision to hike rates.

13 Dec Sector movers: Financials pace gains ahead of central bank policy decisions

Cyclicals paced gains on Wednesday, alongside a bounce in food retailers with financials figuring prominently ahead of interest rate decisions from the Federal Reserve on Wednesday evening, as well as the Bank of England and European Central Bank the next day.

13 Dec Director dealings: Ashtead's top brass sell at 52-week high

A large swathe of US-focused equipment rental company Ashtead's top brass offloaded a large part of their holdings of stock in the company even as the price hit a 52-week high.

13 Dec Europe close: Stocks hit by strong euro, Italian political uncertainty

Stocks sagged as a weaker-than-expected reading on US inflation sent the single currency higher ahead of the US central bank's policy announcement later on Wednesday, with Italian stocks also battered by reports which, analysts said, held out the prospect for political instability in the Eurozone's third-largest economy in 2018.

13 Dec Disney close to sealing $60bn deal for Fox and Sky stake - reports

Walt Disney is reportedly set to secure a $60bn deal to buy 21st Century Fox’s entertainment assets, including its 39% stake in UK broadcaster Sky.

13 Dec FOMC hikes rates, but Evans and Kashkari dissent

The US central bank went ahead with its third rate hike of 2018, as expected, but two rate-setters dissented, voting instead for no change.

13 Dec London close: Stocks flat as traders wait on US Fed

London stocks were little changed on Wednesday as investors digested some mixed UK jobs data and looked ahead to the latest policy announcement from the Federal Reserve.

13 Dec US open: Stocks rise ahead of Fed rate decision

Stocks are trading higher ahead of the US central bank's policy announcement later in the day, bolstered by a weaker than expected reading on consumer prices.

13 Dec Thursday preview: BoE, ECB, European Council, Bunzl, Ocado, Sports Direct

Thursday is a big day for the Brexit process as the European Council begins its two-day meeting in Brussels, while the Bank of England's and European Central Bank's rate setters are also convening and results are expected from the likes of Bunzl, Cussons, Ocado and Sports Direct.

13 Dec Gasoline stockpiles build alongside increased domestic output

US crude oil inventories shrank more quickly than expected last week, albeit a large increase in domestic output and an offsetting large build in gasoline stockpiles.